Kansas Statutes 17-1603. Incorporation of associations
(a) Five or more persons engaged in the production of agricultural products may form a nonprofit, cooperative association or associations with or without capital stock, under the provision of this act.
(b) Any corporation organized under this act may form a corporation under the provisions of this act, for the purpose of acting as a subsidiary of the original corporation and conducting any part of the business of the original corporation.
Terms Used In Kansas Statutes 17-1603
- Agricultural products: shall include horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and farm and ranch products. See Kansas Statutes 17-1602
- Association: means any corporation organized under this act. See Kansas Statutes 17-1602
- Cooperative: means any association organized under this act, a cooperative association organized under the laws of any other state, any other association or corporation qualifying as a "farmer's cooperative" within the meaning of section 521 of the federal internal revenue code of 1986, and amendments thereto, or any corporation operating on a cooperative basis within the meaning of section 1381 of the federal internal revenue code of 1986, and amendments thereto. See Kansas Statutes 17-1602
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(c) All cooperative corporations, companies, or associations organized and doing business under other statutes or which have attempted to so organize and do business, shall have the benefit of all of the provisions of this act, and be bound thereby, on paying the fees provided for in this act, and filing with the secretary of state a written declaration signed and sworn to by the president and secretary, to the effect that such cooperative association, by a majority vote of such association’s stockholders, has decided to accept the benefits and be bound by the provisions of this act.
(d) The words “this act” as used herein include article 16 of chapter 17 of the Revised Statutes of 1923, and all acts amendatory thereto.